THE valuation of TransferWise, a fintech firm focused on foreign-exchange transactions, has risen to US$5 billion following a secondary share sale worth US$319 million. The valuation has risen 43 per cent since the startup raised US$292 million in May 2019. (see amendment note)

The UK-based company, which has its Asia-Pacific base in Singapore, now counts US hedge fund D1 Capital Partners and Microsoft co-founder Paul Allen’s Vulcan Capital as new investors.

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